About ASIFMA Annual Conference 2014
Succeeded our inaugural annual conference in Hong Kong in 2013, ASIFMA AnnualConference 2014 themed ‘Developing Asia’s Capital Markets’ was held in Singapore inNovember 2014 as a rotation among significant financial hubs in the region.
The conference had support from some 400 attendees. More than 100 speakers including
senior representatives from Securities and Futures Commission (SFC), Hong Kong
Monetary Authority (HKMA), Reserve Bank of India (RBI), Indonesian Financial ServicesAuthority (OJK), Securities Commission Malaysia, Financial Supervisory Service Korea(FSS), Financial Services Agency Japan (JFSA), Bank of Japan (BOJ), European CentralBank (ECB), European Commission, Bank for International Settlements (BIS), Bank ofEngland, Financial Conduct Authority (FCA), Federal Bank of Chicago (Chicago Fed),and many other leading financial institutions.

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The industry-wide conference provided a unique opportunity for global and regional
policy makers, high-level regulators and industry representatives from both sell -side andbuy-side firms to meet and discuss important issues affecting the development of Asia’scapital markets.
We highly appreciated the valuable supports by from 24 sponsors including Bank ofAmerica Merrill Lynch, BNP Paribas, BNY Mellon, CAIA Association, Chicago Booth, Citi,Clearstream, CLS, Crédit Agricole, DTCC, Eurex Clearing Asia Pte Ltd, Euroclear, GoldmanSachs, ING, J.P. Morgan, Latham & Watkins, Markit, Moody's, Morgan Stanley, Nomura,Societe Generale, Standard & Poor's Ratings Services, Thomson Reuters, Tradeweb,
Westpac and 16 endorsers as well as 12 media partners.

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We have received very positive feedback from the stakeholders including speakers,delegates, sponsors and endorsers. Most of them found the speakers excellent, thediscussions highly informative and concurrent roundtables interactive, and theconference thought provoking and enjoyable with the opportunity to meet the various
senior representatives with similar interests in financial regulation.

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List of Participating Organisations in 2014:
Alliance Bernstein
Alternative Exchange Advisory
Alternative Investment Management Association (AIMA) Singapore
Ashurst Australia Beijing Representative Office
Asia Law & PracticeAsian Development Bank
Asia-Pacific Structured Finance Association Limited
Australia and New Zealand Banking Group (ANZ)
Bangko Sentral ng Pilipinas
Bank for International Settlements (BIS)Bank of America Merrill Lynch (BAML)
Bank of England
Bank of Japan (BOJ)
Bank of Thailand
Barclays
Baring Private Equity Asia (BPE)
Barron's
BBC News
BlackRock
Bloomberg L.P.
BNP Paribas
BNY Mellon
Bombay Stock Exchange (BSE)
Bombay Stock Exchange Brokers’ Forum
British High Commission Singapore
BSI Bank Limited
Capital Group
Capital International
CFA Institute
Channel NewsAsia
Chartered Alternative Investment Analyst Association (CAIA)
Chi-X Australia Pty Ltd
CIMB Investment Bank Berhad
Citi
Citicorp Investment Bank (Singapore) Ltd.
City of London, India Representative Office
Clarient Global LLCClearstream
Clifford Chance
CLS
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Commerce International Merchant Bank (CIMB)
Credit Agricole
DBS
Dealogic Asia Pacific Ltd
Dealreporter
Deloitte Consulting (Hong Kong) Limited
Deutsche Bank
Dow Jones
DSP Merrill Lynch Ltd
DTCC
DTCC Deriv/SERVDTCC Singapore
Eastspring Investments
Edelweiss Alternative Asset Advisors Pte Limited
Ernst & Young
EU Commission
Eurex Clearing Asia Pte Ltd
Euroclear Bank
Farallon Capital Asia Pte Ltd
Federal Reserve Bank of Chicago
Fidessa group plc
Finance Asia
Financial Conduct Authority (FCA), U.K.
Financial Services Agency (Japan)
Financial Supervisory Service (FSS)
Financial Times
First State Investments
FOW (Futures & Options World)
GBST
Global Financial Markets Association (GFMA)Securities Industry & Financial Markets Association (SIFMA)
Goldman Sachs
Harvest Global Investments Limited
Haymarket Financial MediaHKEx (Hong Kong Exchanges & Clearing Limited)Hong Kong Monetary Authority (HKMA)
Hong Kong Mortgage Corporation Limited
HSBC
ICI Global
IDFC SECURITIES SINGAPORE PTE LTD
IFLRPage 6

Infrastructure Development Finance Company (IDFC Limited)
ING Bank N.V., Singapore Branch
ING Group
International Capital Market Association
ISDAJ.P. Morgan
J.P. Morgan Asset Management
KCG Asia Pacific Pte Ltd
Kinetic Partners (Hong Kong) Limited
Latham & Watkins
London Metal Exchange (LME)
Mackintosh & Lee
Macquarie Group
Malayan Banking BerhadMarkitMergermarket
Merrill Lynch (Asia Pacific) Ltd
Mizuho Securities Asia
Monetary Authority of Singapore (MAS)
Moody'sMorgan Stanley
Mortgage House
NASDAQ
National Australia Bank
National Securities Depository Limited (NSDL)National Stock Exchange
National University of Singapore
Newedge Financial Singapore Pte. Ltd.
Nikkei
NomuraNordea Bank Finland PLC
OCBC Securities Pte Ltd
Och-Ziff Capital Management HK Ltd
The Financial Services Authority (OJK)
Omgeo
Pan Asia Securities Lending Association
Pictet Asset Management (Hong Kong) Ltd
PIMCOPlatts
Principal Global Investors
RBC Investment Management (Asia) Limited
RBS
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Regulation Asia
Reserve Bank of India (RBI)
Romulo Mabanta Buenaventura
Schroders
Securities & Exchange Board of India
Securities and Futures Commission, Hong Kong (SFC)
Securities Commission Malaysia
Securities Industry and Financial Markets Association (SIFMA)
Shanghai Stock Exchange (SSE)
Singapore Exchange (SGX)
Societe Generale
Standard & Poor’s Rating Services
Standard Chartered Bank
State Street Asia Limited
State Street Bank and Trust Company
State Street Global Advisors (SSgA)SWIFT
The American Chamber of Commerce in Singapore
The Asian Banker
The Association of Corporate Treasurers
The Bank of Nova Scotia Asia Ltd
The Bank of Tokyo-Mitsubishi UFJ, Ltd
The Economist
The Philippine Stock Exchange, Inc.
The Trust Company, Part of PerpetualThomson Reuters
Thomson Reuters Fxall
Today
Tower Research Capital (Singapore) Pte. Ltd
Tradeweb Asia
U.S. Department of the Treasury
Wall Street Journal
Wellington Management Company
Westpac Banking Corporation
Event Website:
For more about ASIFMA Annual Conference 2014:
http://www.asifma.org/annual2014/
For more information about ASIFMA events:
http://www.asifma.org/events/Page 8DAY 1 (Wednesday, 5 November 2014)
Global and Regulatory Topics
Morning Session (for regulators only)
08:00-09:00

Breakfast with Regulators

09:00-09:45

Closed-Door Regulator Meeting 1:
Infrastructure Financing

09:45-10:30

Closed-Door Regulator Meeting 2 :The Development of a Domestic Institutional Investor Base

10:30-10:45

Coffee Break

10:45-11:30

Closed-Door Regulator Meeting 3 :Dealing with Extra-Territorial Measures Emanating From the Developed Economies

Afternoon Session (for all conference participants)
11:30-12:30

Delegate Check-In & Buffet Lunch

12:30-12:40Welcome Remarks
Mark Austen, CEO, Asia Securities Industry & Financial Markets Association (ASIFMA)

12:40-13:00

1st Keynote
Jacqueline Loh, Deputy Managing Director (Monetary Policy & Investment /Development & International), Monetary Authority of Singapore (MAS)

13:00-13:20

2nd Keynote
Ashley Alder, CEO, Securities and Futures Commission (SFC)(followed by short interview on stage by Rachel Armstrong, Singapore Bureau Chief,Thomson Reuters)1

13:20-14:20

Panel 1: Developing a Global Regulatory Framework – Can We All Just Get Along?
 Hiromi Yamaoka, Director General, Financial Markets Department, Bank of Japan Patrick Pearson, Head of Unit, Financial Markets Infrastructure, EuropeanCommission
 Nick Miller, Head of International Department, Financial Conduct Authority (FCA) Jae-Ryong Jeong, Head of International Cooperation Department, Financial
Supervisory Service, Korea (FSS) Shunsuke Shirakawa, Deputy Commissioner of International Affairs, Financial
Services Agency (FSA), Japan Foo Lee Mei, Executive Director and General Counsel, Securities Commission
Malaysia Ashley Alder, CEO, Securities and Futures Commission (SFC) Ken Bentsen, President and CEO, Securities Industry & Financial Markets
Association (SIFMA) and CEO, Global Financial Markets Association (GFMA) &(Moderator)

14:20-14:50

Coffee Break

14:50-15:50

Panel 2: To Subsidiarise or Not To Subsidiarise? – Is That The Question?
 Melanie Beaman, Head of Department, Major UK International Banks, Prudential
Regulation Authority, Bank of England Ilhyock Shim, Senior Economist, Bank for International Settlements (BIS) Vicki Noblett, Vice President, Government & Regulatory Affairs, Asia Pacific,
Deutsche Bank
 Carter McDowell, MD and Associate General Counsel, Securities Industry andFinancial Markets Association (SIFMA) Joseph Perry, Senior Manager, Group Public Affairs, Standard Chartered Bank Mark Austen, CEO, Asia Securities Industry & Financial Markets Association(ASIFMA) (Moderator)

15:50-16:50

Panel 3: Passporting, Mutual Recognition – Will At Long Last Funds Be Allowed To Be
Sold Cross Border in Asia?
 Ajai Kaul, CEO, Asia Pacific ex Japan, AllianceBernstein Han Ming Ho, Chairman, Alternative Investment Management Association (AIMA)
Singapore, Partner, Sidley Austin LLP Steven Billiet, CEO, Singapore, JP Morgan Asset Management
 Paul Yuen, Executive Director, Market Conduct Department, Monetary Authorityof Singapore (MAS) Hon Cheung, Regional Director, Asia, Official Institutions Group, State Street Global
Advisors (SSgA) (Moderator)

16:50-17:00

Wrap Up for Day 1

17:00-18:30

Networking Drinks2DAY 2 (Thursday, 6 November 2014)
Morning Break-out Sessions – Global Markets Topics
Equity Focused (Stream 1)
8:30-8:45

Delegate Check-in

8:45-9:30

Panel 1: Raising Equity in Asia – What Can Be Done to Make It More Attractive? What
About Dual Class Share Structures and Other Innovations?
 Jyotirmoy Banerjee, Assistant General Counsel, Bank of America Merrill Lynch(BAML) Matthew Kirkby, MD, Co-Head of Investment Banking APAC & CEO, North Asia,CIMB Securities Ltd.
 Alex Abagian, ED, Head of Asia Equity Syndicate, Equity Capital Markets, MorganStanley Hans Sicat, President & CEO, The Philippine Stock Exchange (PSE) Peter Douglas, Principal, CAIA Singapore, Chartered Alternative Investment
Analyst Association (CAIA) (Moderator)

9:30-10:15

Panel 2: Stock Connect – Is this the End of the Beginning for China’s Stock Market
Development? Or a turn in the road, with the view obscured?
 Sam Kim, MD, Head of Trading & Liquidity Strategies, Asia Pacific, BlackRock Christina Ma, MD, Co-head, Micro One Data Trading, Aisa Pacific Ex-Japan,Goldman Sachs
 Sharon Ang, Senior Vice President, Global Client Management and BusinessDevelopment, Hong Kong Exchanges and Clearing Limited (HKEx)
 Ian Cohen, MD, COO Equities Asia, Chief Strategy Officer Global Equities, HSBC
 Simon Sims, ED, Head of Asia Equities Swaps Marketing, Morgan Stanley Fu Hao, Head of Global Business Development, Shanghai Stock Exchange (SSE) Jeremy Grant, Asia Regional Corporate Correspondent, Financial Times(Moderator)3

10:15-10:45

Coffee Break

10:45-11:30

Panel 3: Opening Up India – What Are the Remaining Hurdles?
 Ashish Chauhan, MD & CEO, Bombay Stock Exchange (BSE) Saumil Shah, MD, Head of India Equity Sales Trading, Asia Pacific Equities, DSP
Merrill Lynch Ltd
 Sanjay Awasthi, Director, Eastspring Investments
 G V Nageswara Rao, MD & CEO, National Securities Depository Limited (NSDL) Chitra Ramkrishna, MD & CEO, National Stock Exchange (NSE), India
 Todd Prado, Global Head of Equity Dealing, First State Investments(Moderator)

11:30-12:15

Panel 4: The Trials and Tribulations of Making the Post-trade Cycle More Efficient.
What Needs to Be Done?
 Jeffrey Williams, MD, Asia Pacific Head of Direct Custody and Clearing, Citi
 Frederic Hannequart, Chairman, Euroclear Bank Paul Day, MD, Asia Head of Operations, Morgan Stanley Paula Arthus, President & CEO, Omgeo
 Barnaby Nelson, MD, Regional Head of Investor & Intermediary, North East Asiaand Greater China, Standard Chartered Julian Chesser, MD, Head of Processing, APAC, Markit (Moderator)

12:15-13:00

Panel 5: The Growing Influence of Asia on Commodities Markets
 Jason Tudor, MD, Asia Pacific Head of Commodities, Citi
 Jonathan Deane, MD , Head of Commodities Trading Asia, Global Head ofAgricultural Products Trading, J.P. Morgan Garry Jones, CEO, London Metal Exchange (LME) Vandana Hari, Asia Editorial Director, Platts
 Lily Chia, Head of Product Management, Commodities, Singapore Exchange (SGX) Henning Gloystein, Energy Editor, Asia Pacific, Thomson Reuters (Moderator)

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DAY 2 (Thursday, 6 November 2014)
Morning Break-out Sessions – Global Markets Topics
Fixed Income Focused (Stream 2)

8:30-8:45

Delegate Check-in

8:45-9:00

Presentation 1: Moving from Bank Lending to Capital Markets: How Do We EncourageIt?
Peter Matza, Engagement Director, The Association of Corporate Treasurers (ACT)

9:00-9:45

Panel 1: Credit Markets: Slowly Growing – Where Do We Go from Here?
 Brad Gibson, Portfolio Manager, AllianceBernstein Philipp Lotter, MD, Head of SSEA Corporate Finance, Moody's Dean Wang, MD, Fixed Income & Commodities, Morgan Stanley
 Frederick Laydon, COO, Asia, Principal Global Investors
 Elena Okorochenko, MD, Asia-Pacific Ratings, Standard & Poor’s Ratings Services
 Sharad Desai, MD, APAC Head of Sales, Fixed Income, J.P. Morgan (Moderator)

9:45-10:15

Panel 2: Will Project Bonds Fund Asian’s Infrastructure Needs?
 Peeyush Pallav, VP, Structured Debt Solutions, Treasury & Markets, DBS
 Michael Cooper, Director of Infrastructure, Asia-Pacific, Project and Export Finance,HSBC
 Daniel Mallo, MD, Head of Energy Project Finance and Metals & Mining, Asia
Pacific, Societe Generale Thomas Jacquot, Senior Director, Corporate & Infrastructure Ratings, Standard &Poor’s Rating Services Mark Austen, CEO, Asia Securities Industry & Financial Markets Association(ASIFMA) (Moderator)

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10:15-10:45

Coffee Break

10:45-11:30Panel 3: How Are Bonds Used in Acquisition Financing? Are Leveraged Buy-outs
Evolving in Asia?
 Nicholas Macksey, Principal, Baring Private Equity Asia (BPE) Haitham Ghattas, Head of High Yield Capital Markets, Asia, Deutsche Bank
 Enrique Becerra, MD, Asia Pacific Financial Sponsors Group, Merrill Lynch (AsiaPacific) Ltd
 Michael Seewald, MD, Corporate Ratings, Standard & Poor’s Ratings Services
 Bryant Edwards, Partner, Latham & Watkins (Moderator)

11:30-12:15

Panel 4: Mobility of Collateral: Unlocking Trapped Collateral and Connecting
Recipients Cross-border?
 Dominick Falco, MD and Head of Global Collateral Services, Asia Pacific, BNYMellon
 Dirk Bullmann, Adviser DG General Market Infrastructure and Payments, EuropeanCentral Bank
 Richard Heckinger, Vice President and Senior Policy Advisor, Financial Markets
Group, Federal Reserve Bank of Chicago
 Olivier Grimonpont, General Manager, Regional Head, Asia-Pacific, Euroclear Bank
 Nico Torchetti, Head of Post-trade Services, Singapore Exchange (SGX) Vijay Chander, ED, Fixed Income, Asia Securities Industry & Financial Markets
Association (ASIFMA) (Moderator)

12:15–13:00

Panel 5: NDFs and the FX Markets: What Is the Future? Are Regulators Supportive?
 Rachael Hoey, Head of Asia, CLS Rajeev Demello, Head of Asian Fixed Income, Co-head of Emerging Markets Debt
Relative, Schroders
 Jason Daw, Head of Asian FX Strategy, Societe Generale Jonathan Woodward, Head of Asia Pacific, Thomson Reuters FXall Jonathan Cavanagh, Senior Asian Currency Strategist, Westpac
 David Ngai, MD, Global FX Division, Asia Pacific, Global Financial Markets
Association (GFMA) (Moderator)

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DAY 2 (Thursday, 6 November 2014)
Afternoon Keynotes and Concurrent Roundtables
13:00–14:00

Buffet Lunch

14:00-14:10

Welcome Remarks

14:10-14:30

3rd Keynote
Muthukrishnan Ramaswami, President, Singapore Exchange (SGX)(followed by short interview on stage by Wayne Arnold, Senior Columnist, Barron's)

14:30-15:15

Concurrent Roundtables (Closed to the media)
Concurrent Roundtable 1: OTC Derivatives: Should Fragmented Markets Ever Be
Put Back Together?
 Conor Cunningham, MD, Asia Pacific Head of Futures and OTC Clearing, Citi (Colead) Kishore Ramakrishnan, ED, Financial Services Advisory, Ernst and Young Advisory
Services Limited (Co-lead) Keith Noyes, Regional Director, Asia Pacific, International Swaps and Derivatives
Association (ISDA) (Co-lead)
Concurrent Roundtable 2: Compliance: Are the Costs of Complying Severely
Undermining the Ability To Do Business in Financial Markets, and What Can Be Done
About It?
 Tim Woodward, Head of Compliance Reg Reform and Monitoring & Surveillance,
Asia, J.P. Morgan (Co-lead) Wilfred Yeung, Head of Compliance, Asia ex-Japan, Nomura (Co-lead)
Concurrent Roundtable 3: Equities: Can Asia Learn Something from the Opening ofExchange to Competition in US and EU?
 Ned Phillips, Director, Alternative Exchange Advisory (Co-lead) John Fildes, CEO, Chi-X Australia Pty Ltd (Co-lead) Robert Rooks, Principal, Deloitte Consulting (Hong Kong) Limited (Co-lead)
Concurrent Roundtable 4: Tax: Are Clunky Tax Regimes in Many Asian Countries
Hurting Foreign Investment? And Is Reform in the Air?
 Sean McGrady, Tax Counsel, Goldman Sachs (Co-lead) Stephen Bruce, Partner, Financial Services Tax, Ernst & Young (Co-lead)7

15:15-15:45

Coffee Break

15:45-16:30

Concurrent Roundtables (Closed to the media)
Concurrent Roundtable 5: Trade Reporting: Will Regulators Ever Get a Complete
Global View of Products in Order to Manage Systemic Risk?
 Cindy Leiw, Director of Policy, International Swaps and Derivatives Association(ISDA) (Co-lead) David Ngai, MD, Global FX Division, Asia Pacific, Global Financial Markets
Association (GFMA) (Co-lead)
Concurrent Roundtable 6: KYC: Is Now the Time to Create Global Utilities to Make
Onboarding of Clients Easier and More Cost Efficient? Will Regulators Support It?
 Mathew Keshav Lewis, Global Head of Client Engagement, Integration & StrategicPartnerships, Clarient Global LLC (Co-lead) David Williams, Director, Head of APAC Product: MCPM & KYC Services, Markit(Co-lead) Zelda Anthony, Head of ASEAN, SWIFT (Co-lead) Anna Mazzone, Global Head of KYC Business, Thomson Reuters (Co-lead)
Concurrent Roundtable 7: Regulatory Reform on Market Infrastructures: The Role
They Have Played in Helping to Reduce Systemic Risk in Financial Markets?
 Rachael Hoey, Head of Asia, CLS (Co-lead) Peter Tierney, Regional Head Asia, DTCC Deriv/SERV (Co-lead) Gaetan Gosset, Director, Head of Product Management, APAC, Euroclear (Co-lead) Michael Karbouris, Head of Business Development, Asia Pacific, NASDAQ (Co-lead)
Concurrent Roundtable 8: Offshore RMB Markets: Rapidly Growing and Developing.
What’s Next?
 CG Lai, Head of Fixed Income Greater China and Head of Corporates Group, Asia
ex-Japan, BNP Paribas (Co-lead) Pete Sweeney, Senior Markets Correspondent, Economics and Markets, Thomson
Reuters (Co-lead)8

16:30-16:50

4th Keynote
R. Gandhi, Deputy Governor, Reserve Bank of India (RBI)(followed by short interview on stage by Pete Sweeney, Senior Markets Correspondent,
Economics and Markets, Thomson Reuters)

16:50-17:10

Closing Keynote
Ir. Nurhaida, Head Executive for Capital Market Supervision/ Member of Board
Commissioners, Indonesian Financial Services Authority (OJK)(followed by short interview on stage by Wayne Arnold, Senior Columnist, Barron's)

17:10-17:15

Closing Remarks
Mark Austen, CEO, Asia Securities Industry & Financial Markets Association (ASIFMA)

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